Middle East Economic Survey
VOL. LIII
No 3
18-Jan-2010
TURKEY
ExxonMobil Joins Petrobras Black Sea Project
ExxonMobil has acquired a 25% stake in Turkeys offshore Block 3922 (Sinop) in the Black Sea through a farm-in agreement with Brazils Petrobras. ExxonMobil, Petrobras and the Turkish Petroleum Corporation (TPAO) on 11 January signed a partnership agreement in Rio de Janeiro for exploration of the block. The deal gives ExxonMobil half of Petrobrass 50% stake, leaving TPAO with the remaining...
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